India said Wednesday it was in the final stages of revising its 1974 visa agreement with Pakistan to facilitate the movement of people, particularly businessmen, between the two countries.
India’s commerce minister Anand Sharma, leading a delegation of over 120 businessmen to Pakistan, said he had discussed the issue of visa liberalisation with the home minister. “The commerce, home and external affairs secretaries are in final stages of deliberations,” Mr Sharma told reporters.
“Once the agreement is made, approvals have to be taken from (both) governments. This is for all (categories of) people. Special dispensations would be made for businessmen,” he said.
On a timeframe, he said “we are keen to do it at the earliest”. Visas would be granted to those whose names were endorsed by apex chambers of commerce on both sides: for this CII and Ficci had been nominated in India.
The minister said India and Pakistan would also soon relax banking norms, and Indian banks could soon set up branches in Pakistan. An understanding has been reached between the Reserve Bank of India and the State Bank of Pakistan on granting permission for opening two branches of banks on a reciprocal basis. Joint working groups on power and petroleum products will meet in March.